Hong Kong antiques dealer William Chak says that as the tastes of mainland Chinese collectors evolve, they are digging deeper into the country’s history for unique pieces.

The dealer, regarded as one of the most influential in the Chinese antique market, says Chinese collectors first got into antiques when they came into wealth in the early 2000s, collecting ornate bowls, vases and other porcelain items from the Qing dynasty (1644-1911) era. But Mr. Chak—who started in the business in the 1970s as a teenager, working as a cleaner in an antique shop—is betting that the same collectors are now shifting their attention to the simpler, older porcelains of the Song dynasty (960-1279) era. He points to a palm-size Cizhou-style bowl among his collection. Almost minimalist, it’s painted solid black with a thin band of white around the lip—a stark contrast to Qing porcelain, often painted with flowers, birds or fruit.

Mr. Chak estimates the bowl has tripled in value over the past five years to around 150,000 Hong Kong dollars, or US$19,230. Recent auction results support his lofty valuation. A similar bowl with the same black-and-white design sold at a March auction at Christie’s in New York for US$40,000, more than four times its pre-sale US$9,000 estimate and nearly three times the US$14,100 a comparable bowl brought at a Christie’s auction in 2001.

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At the same time, collectors are still pursuing fine Qing dynasty pieces. Earlier this year, Mr. Chak says he spent more than US$20 million on behalf of investors on Qing-era porcelains at a single Sotheby’s auction. One small 18th-century rice bowl cost US$9.5 million.

Still, he’s more bullish on the Song pieces, and he says he’s trying to persuade his clients to follow his lead.

Go to Scene Asia to read edited excerpts of a Wall Street Journal conversation with Mr. Chak on how to invest in the esoteric Chinese antique market.

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